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Revealed: the cheapest and most expensive places to live in London

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Any millennial worth their salt will live through their fair share of renting, and can recite tales of filthy housemates and mysteriously missing food at the drop of a hat. 

However, renting is no longer the preserve of this financially-poor generation, with the number of renters in London now overtaking the number of homeowners for the first time.

Brilliantly, the capital is also the most expensive location for renters in the UK, with average monthly rentals of £741 (compared to £444 in the rest of the UK), according to spareroom.co.uk. However, prices vary depending on location, and the latest London Rental Index figures from SpareRoom have revealed the cheapest and most expensive parts of London in which to rent.

So where does your rental rank in London prices?

The heat map below, showing average prices for a double room inclusive of bills, proves that central London is unsurprisingly pricier than the outskirts:

london heat map

The cheapest rents in the city can be found by heading east, where Abbey Wood and Lower Edmonton have the lowest monthly rentals, at £516 and £529 respectively. In contrast, the most expensive postcode in London is EC, with average rents of £916.

The price of renting in south-west London has hiked more than in any other area over the last year, with a 4% increase in costs. This is most obvious in Clapham, where average monthly rentals have spiked by 13% to a whopping £845 per month.

You can see below for the average rental prices according to postcode – house move optional...

E: £720

EC: £916

N: £738

NW: £757

SE: £692

SW: £769

W: £803

WC: £880

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